I have a loan to close and loan officer did not quote interst, escrows or home insurance on GFE. I know these are all items that can change, is there something else I need to do or not do?

I just had a LO come to me with same problem -- initial GFE did not disclose escrow and it was taken after 4/1. Do we redisclose, is this a changed circumstance, what is the violation if we redisclose

The LO leaving something off is an error, not a changed circumstance. You cannot redisclose. You do put the information on the HUD. Luckily, these are items that can change so there is no cure required.

Thank you.

I just had another lender insist that for RESPA compliance reasons they are requiring a minimum of 15 days interest to be disclosed in block 10. Does anyone know if there is any legal requirement to this? Or does this just sound more like a best practice sort of thing?

For FHA loans, they want 15 days per diem used for disclosing and underwriting reasons. Other than that, I am not aware of any requirements. We use 15 for FHA and 30 for all others-worse case.

'Lender insist' - 'Respa compliance' Now there's an oxymoron for you.

I suppose you might construe it as a good idea but if you have a realistic idea when the loan is going to close, it would be more fair to the borrower to put the interest to that date in. And it's a box that can change anyway.

Thanks for the input. This is an FHA loan so that is probably what is going on here.